April 2021
Here it is, the big PR crisis management lesson that Covid should have taught every business….you are NOT immune! A crisis can come out of anywhere and happen to any company. No matter how big or how small you are, if you take anything away from 2020, it should be that even your business can face a major crisis. And how you respond to it can define your future.
Over the years, I’ve heard so many executives say it can’t happen to them. Whether it is because they believe they have their operations down to a tee or they aren’t a big enough corporation or they just are naive, they simply don’t believe it. And they live on the policy of out of sight, out of mind. That way of thinking only hurt them in 2020.
So, now that it is 2021, we are smarter and more savvy about crisis management and preparation, right?! Many executives are now opening their eyes to the possibility of a crisis and they are making major changes!
PwC puts out a Global Crisis Survey each year. They break down leader sentiment surrounding crisis management and preparation. Here are some of the most crucial insights from this year’s survey:
62% of global business leaders used a crisis plan in response to the pandemic. This is huge, it means that more than half of leaders understand the value of a plan to navigate through one of the most far-reaching crises we’ve ever seen.
The survey also found:
80% of global business leaders were involved in a crisis response for their organization.
73% of global business leaders have been negatively impacted by a crisis.
83% of global business leaders felt that the crisis affected the finance and liquidity of their organization and 89% thought it affected the operations and supply chain part of their organization.
So, what did the respondents take away?
The number one takeaway was the need for preparation and agility.
The survey also breaks down the organizations that were positively impacted by a crisis were more likely to:
1. Have a designated crisis response team
2. Have conducted after-action review
3. Have sought external support
Looking forward, 69% of global business leaders said they are actively working on increasing resilience. Having a plan and being prepared is key to handling a crisis and coming out better on the other side.
So, where do you fall on this survey? What steps is your business taking to prepare for a crisis?
So, where do you fall on this survey? What steps is your business taking to prepare for a crisis?
Let us help you with our proven crisis management strategies. Get Branded today.